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fxJun 10, 2026, 4:09 PM

Gold Extends Decline to Ten-Week Low, Breaks Below Bear Channel Support

Gold prices fell to their lowest in ten weeks, accelerating after breaking below the lower boundary of a bear channel that had contained previous declines.

XAUUSD

Gold continues its downward trend, hitting a ten-week low on Wednesday. The decline accelerated after prices broke below the lower boundary of a bear channel, which had previously supported the metal and contained multiple attempts to rally. The current move is pressuring the 2026 low, suggesting further downside risk.

Source: FXStreet Forex News